RB Global (TSE:RBA) Reaches New 1-Year High – Should You Buy?

RB Global, Inc. (TSE:RBA) (NYSE:RBA)’s stock price reached a new 52-week high on Friday . The company traded as high as C$164.85 and last traded at C$164.45, with a volume of 14274 shares changing hands. The stock had previously closed at C$163.96.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RBA. Stephens upgraded RB Global to a “hold” rating in a report on Thursday, April 16th. Barclays upgraded RB Global to a “strong-buy” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, RB Global has an average rating of “Buy” and a consensus price target of C$124.00.

RB Global Stock Performance

The company has a 50 day moving average of C$143.58 and a 200 day moving average of C$143.92. The firm has a market cap of C$30.47 billion, a price-to-earnings ratio of 76.07, a PEG ratio of 2.43 and a beta of 0.13. The company has a quick ratio of 0.99, a current ratio of 1.14 and a debt-to-equity ratio of 69.55.

RB Global (TSE:RBA) (NYSE:RBA) last issued its earnings results on Monday, May 4th. The company reported C$1.40 earnings per share (EPS) for the quarter. RB Global had a net margin of 9.53% and a return on equity of 7.47%. The business had revenue of C$1.23 billion for the quarter. As a group, equities research analysts expect that RB Global, Inc. will post 5.0577819 EPS for the current fiscal year.

RB Global declared that its board has initiated a stock buyback program on Monday, March 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

About RB Global

Ritchie Bros. operates the world’s leading marketplace for heavy equipment. The company started as a live auctioneer of industrial equipment, since then it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment. Ritchie Bros. operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its agricultural auctions are frequently much smaller venues and can include liquidations of single farms.